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A group of students and Fr. Michael Braden (founder of the campus TV operations) persuaded Fr. Harold Ridley, then President of the College, to start a new, state-of-the-art facility for students that would also embrace the Communications Department coursework as a laboratory. A new facility was designed and installed by LPB Communications, Inc., Ziger Snead, James Posey Associates and Acoustic Dimensions. Construction was completed in autumn of 2002. John Devecka was hired as the Operations Manager, and the initial student staff was trained to begin broadcasting. William Coveney '03 was the first student General Manager, Kathryn Lowry '05 the first Music Director. WLOY went live March 19, 2003 and has broadcast continuously since.

WLOY follows a general rock music radio format, playing contemporary, alternative, and classic rock. Music selection trends from lighter in the morning towards heavier in the evening and overnight. On-air staff, comprised almost exclusively of students, are given latitude to select songs within this radio format.

Specialty shows include world music, community voices, old time radio shows, a financial information show hosted by Dena Frenkel, CPRC, featuring discussions with guests on matters of financial planning[1] and others. Additional community-focused shows such as "What Happens Next?" and "Both Feet In:A Conversations with People Experiencing Homelessness" have garnered national awards and recognition for their innovation. A former specialty show, Shut Up, I'm on the Radio, was awarded "Best Local Music Radio Show" in 2006 by the Baltimore City Paper. The station also frequently broadcasts live coverage of Loyola GreyhoundsNCAADivision I sporting events. The station was a finalist for Best Radio Promotion at the National Student Production Awards in 2009. The station won the Fr. Timothy Brown, S.J. Club of the Year award for 2009-2010 as a result of campus and community efforts including raising over $22,000 for earthquake relief in Haiti. The station was selected to the Top 25 College Radio Stations in the 2011 mtvU Woodie Awards, one of only 3 stations selected without a broadcast license. WLOY was selected in 2012 to the Top 10 College Radio Stations at the mtvU Woodie Awards.

WLOY incorporates local artists throughout the program format, including weekly free performances on campus and regular in studio interviews. In 2014 WLOY programmed a music stage for both days of HonFest with 14 local artists.

WLOY is a founding member of the Baltimore Community Radio Coalition[2], and carries programming produced by underrepresented communities within Baltimore City. As a member WLOY has contributed equipment, installation and training to the program in Dallas F. Nicholas Sr. Elementary School, among others. Material produced by Learning, Inc. and students at Dallas Nicholas airs Saturdays at noon and Sundays at 2pm as part of the community radio hour. In the summer of 2009 the station began a children's literacy program What Happens Next? which also airs as part of the community radio hour. In 2010 the station began airing Both Feet In: Conversations with people experiencing homelessness.